Thursday 8 December 2016

This house of cards was always destined to collapse

Published 01/07/2015 | 02:30

Badly burnt: Greek Prime Minister Alexis Tsipras
Badly burnt: Greek Prime Minister Alexis Tsipras

The establishment of the European Economic Community (later the European Union) in 1957 was an extraordinary achievement. Repairing the wounds of two world wars that had devastated Europe, it created the basis for co-operation between formerly hostile states, leading to decades of relative peace and prosperity, social and political stability and the unprecedented mingling of cultures and populations. Since 1973, Ireland has reaped enormous benefits, financially, economically and socially, from EEC/EU membership.

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Core to the success of 'The European Project' were the principles of social democracy, marrying social justice with market distribution to underpin social protections, employment rights, equality and solidarity.Since the 1970s the international regulations that limited the powers of corporate finance have come increasingly under attack by private interests.

This has led to the silent and insidious hijacking of democratic political processes by unaccountable corporate power.

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